Dimensional Fund Advisors LP Raises Position in PDD Holdings Inc. Sponsored ADR $PDD

Dimensional Fund Advisors LP boosted its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 3.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,426,879 shares of the company’s stock after buying an additional 119,738 shares during the period. Dimensional Fund Advisors LP owned approximately 0.25% of PDD worth $452,671,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. United American Securities Inc. d b a UAS Asset Management bought a new stake in shares of PDD during the 3rd quarter valued at about $1,652,000. Insigneo Advisory Services LLC purchased a new stake in PDD in the third quarter valued at approximately $457,000. AustralianSuper Pty Ltd lifted its position in PDD by 18.4% during the third quarter. AustralianSuper Pty Ltd now owns 41,422 shares of the company’s stock valued at $5,475,000 after purchasing an additional 6,432 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in PDD by 22.8% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 213,860 shares of the company’s stock worth $28,266,000 after buying an additional 39,700 shares in the last quarter. Finally, 111 Capital increased its holdings in shares of PDD by 3.7% in the 3rd quarter. 111 Capital now owns 5,393 shares of the company’s stock worth $713,000 after buying an additional 193 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on PDD. Sanford C. Bernstein set a $135.00 price objective on shares of PDD in a report on Tuesday, November 18th. Arete Research set a $130.00 price target on PDD in a research note on Tuesday, December 9th. Citigroup reiterated a “neutral” rating on shares of PDD in a report on Wednesday, January 28th. Morgan Stanley set a $148.00 price objective on PDD in a research report on Thursday, January 15th. Finally, Wall Street Zen downgraded PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Four research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $139.87.

PDD Stock Up 0.5%

NASDAQ PDD opened at $101.19 on Thursday. The company has a 50-day simple moving average of $107.69 and a two-hundred day simple moving average of $119.02. PDD Holdings Inc. Sponsored ADR has a 12-month low of $87.11 and a 12-month high of $139.41. The firm has a market cap of $140.87 billion, a price-to-earnings ratio of 10.56, a PEG ratio of 0.93 and a beta of -0.01.

About PDD

PDD (NASDAQ: PDD) is the holding company best known for operating Pinduoduo, a China-based, mobile-first e-commerce platform that emphasizes interactive, social shopping and group-buying mechanics to drive user engagement and low prices. Founded in 2015 by entrepreneur Colin Huang, the business has grown by connecting consumers directly with merchants and manufacturers, with particular emphasis on value-oriented goods and fresh agricultural produce. The company is based in Shanghai and completed a U.S.